Nvidia's Q1 Earnings Surge, AI Chips Drive Growth

Nvidias shares surged by over seven percent in after-hours trading following a strong fiscal first-quarter earnings report. The companys revenue reached $26.04 billion, surpassing expectations, and adjusted earnings per share came in at $6.12, outshining forecasts. Nvidia anticipates revenue of $28 billion in the next quarter, well above previous estimates. Despite concerns about sustainability, Nvidias CEO, Jensen Huang, emphasized the widespread demand for their chips and the beginning of the next industrial revolution driven by their technology. The companys data center revenue, including AI chips, hit $22.6 billion, marking a 427% increase year over year. Nvidias next-generation Blackwell AI chip is set to begin shipping in the second quarter, further solidifying their market position.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.